vend101 Posted June 11, 2013 Posted June 11, 2013 anyone have experience in pulling this off on a complete route? Did it annoy customers/owners enough to lose accounts? What effect on gross sales? obviously, if unit sales drops 33%/50% respectively , it is still a net profit..... and the location gets the same commission..which is key.. I noticed nen has already done this at walmart
LandJGroup Posted June 11, 2013 Posted June 11, 2013 ive been converting my one to 50 cents over the past year. I Will be the first to admit that in the states I do bulk ive shouldve done it years ago. Not once have ive gotten a lash back from the consumer or business owner. Sent from my SGH-T989 using Tapatalk 2
GagesVending Posted June 11, 2013 Posted June 11, 2013 I think a good way to handle a price increase would be to rotate the products on the rack and put a different product in each one as if they are a new, more expensive product, then just stick with it. I wouldn't go in, jack the prices up, then walk out. Replace the product and put that product in a different location. The "new" product will get the customers excited to buy. You should already be rotating toy product regularly, but I'm suggesting that you do it at the time of the price increase.
jayhawk22 Posted June 11, 2013 Posted June 11, 2013 I think a good way to handle a price increase would be to rotate the products on the rack and put a different product in each one as if they are a new, more expensive product, then just stick with it. I wouldn't go in, jack the prices up, then walk out. Replace the product and put that product in a different location. The "new" product will get the customers excited to buy. You should already be rotating toy product regularly, but I'm suggesting that you do it at the time of the price increase. I agree 100% with Gages. You can't raise your vend price and leave the same old product in it. You need to upgrade your product to something with a higher perceived value. 95%+ of my mechs are upgraded & I have seen an increase in sales at most of my locations.
will.vend Posted June 11, 2013 Posted June 11, 2013 Raising 1 inch to 50 cents is something I did about 3 years ago. I did not have any backlash from customers when I did this. I would not recommend raising "all" 2 inch to 75 cents. I have several machines at 75 cents and even a 1.00 but I still have a lot at 50 cent heads. I feel having these different price points draws more sales.
shepherdsflock Posted June 11, 2013 Posted June 11, 2013 All of my 1" are 50 cents except for mystery mix, and all of my 2" are 75 cents or $1 (I only have 3 heads at $1 as an experiment). 1" sales I've seen no decline in sales at 50 cents, only increased revenue . 2" at 75 cents, same story. 2" at $1 it's hard to say, I have one location with two heads that were already at $1 when I bought the route and they seem to do okay; nothing to get excited about but they pull their weight. The third head I set at $1 when I place a double and it does pretty well. You won't go wrong with 1" at 50 cents and 2" at 75 cents. It's hard to be profitable at anything less than that, especially if you're paying commission.
mjacks Posted June 11, 2013 Posted June 11, 2013 I think a good way to handle a price increase would be to rotate the products on the rack and put a different product in each one as if they are a new, more expensive product, then just stick with it. I wouldn't go in, jack the prices up, then walk out. Replace the product and put that product in a different location. The "new" product will get the customers excited to buy. You should already be rotating toy product regularly, but I'm suggesting that you do it at the time of the price increase. I am actually about to start the process of converting to all .50/$1. I am going in with all new equipment and product when I make the change though. It is time to swap out some of my racks that are showing some rust and faded paint anyways so it makes sense. It will probably look like a whole new vendor took over so hopefully the push back will be minimal.
LandJGroup Posted June 11, 2013 Posted June 11, 2013 Raising 1 inch to 50 cents is something I did about 3 years ago. I did not have any backlash from customers when I did this. I would not recommend raising "all" 2 inch to 75 cents. I have several machines at 75 cents and even a 1.00 but I still have a lot at 50 cent heads. I feel having these different price points draws more sales. Interesting, so you Will run one and two inch at a 50 cent price point on the same rack?
havending Posted June 11, 2013 Posted June 11, 2013 I'm glad this is catching on. When I was telling everyone to change over a couple years ago many here did not want to hear it. This approach will make you money keep it up. Any one know if NW is still making the side by side mech for the 60.
mjacks Posted June 11, 2013 Posted June 11, 2013 The .50 mechs for the 60's I just received are stacked.
antoniocinisi Posted June 12, 2013 Posted June 12, 2013 yes they are!I just ordered a few.I have some back to backs for sale if anyone is looking.
Square Posted June 13, 2013 Posted June 13, 2013 I got a new location with 1" toys @ .25 (plus 2x candy) and was going to just put in a mix of leftovers, BUT this thread has me thinking it's the best time to update to 50 cents is the 'new vender'... What do you guys/gals think???
havending Posted June 13, 2013 Posted June 13, 2013 yes they are!I just ordered a few.I have some back to backs for sale if anyone is looking. How do you like them? Have a photo of one?
antoniocinisi Posted June 13, 2013 Posted June 13, 2013 I love them. I spent some money on them but its worth it imo. Even the youngest kids can understand them and tjey dress up the machine a bit too.I don't like the price or that the price decal isn't even included
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